Salary grades for clerks
On joining Barings in 1834 White served as a fourth class clerk receiving the minimum salary of £40 a year.
At that time the salary grades were as follows:
- First class clerk - £300 a year
- Second class clerk - £200-300 a year
- Third class clerk - £100-200 a year
- Fourth class clerk - £40-100 a year
White seized the opportunities offered to him at Barings and progressed swiftly through the ranks. He faced a setback in 1838 when he found himself in the newly created fifth class of clerks. However by 1840 he was earning £120 a year and was soon to be elevated to the third class.
In 1850 White was earning £450 a year and on the eve of his retirement his salary was £700 per annum.